Baynote raises $10.75M for corporate Web site search
BayNote, Cupertino, Calif. company that tracks the surfing patterns of users of corporate Web sites, in order to make a site easier to navigate, has raised more cash.
It has gotten $10.75 million in a second round of funding, according to a regulatory filing cited by PE Week. Investors include Hummer Winblad Venture Partners, JK&B Ventures and Steamboat Ventures.
The company raised $4.6 million in 2005.
The company hasn’t gotten much visibility, despite launching earlier than the latest players that track surfing patterns to suggest ways companies can improve their offerings. Aggregate Knowledge, a company backed by Kleiner Perkins and which launched barely nine months ago, said recently its technology was responsible for moving 20 percent of Overstock’s sales during the holiday season.
The company is headed by former Interwoven CTO Jack Jia, and uses technology developed at Stanford. Here’s a description of Baynote’s technology by BusinessWeek’s Rob Hof:
[It observers user behavior] by using a bit of code on each page that sends data to Baynote servers. Then the system builds a sort of collective memory about what users who did stick around and find something ultimately did. The result, says Jia, is that the number of clicks it typically takes for someone to find what she’s looking for is reduced from six to just one.
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